New Orleans, LA (PRWEB) September 13, 2011
The New Orleans City Government will host two online tax title sales this fall at CivicSource.com. The first auction is scheduled for September 20 – 22 and the second will be October 11-13, from 8 a.m. to 8 p.m. each day of the online property auction. By hosting the tax lien properties for sale online, bidders that would not normally be able to attend the auction in person are now able to participate. The City of New Orleans has held online tax title sale auctions on CivicSource.com since 2008.
The September auction contains over 2,600 properties slated to go to sale ranging in base price from $227 to $745,542. Additionally there are over 2,200 properties scheduled to go to sale in October, ranging in price from $105 to $206,000. The CivicSource.com tax sale is open to the general public. Free registration and a list of available properties are available at CivicSource.com.
A tax title sale is the sale of properties that have delinquent real estate taxes due. The tax titles for these properties are sold to the public for the amount of the delinquent taxes due, plus all accrued interest, collection fees, costs and other statutory impositions. The tax title sale is a low-bid wins style auction in which the property is sold to the purchaser willing to bid for the least percent ownership interest in the property.
Winning bidders do not immediately own the property. The property owner can redeem the property by repaying the tax collector for the purchase price plus redemption penalty and redemption interest. If the property is not redeemed within three years (eighteen months for legally blighted properties) the tax title holder can pursue the property’s title.
Interested parties without access to a computer can participate in the auction via kiosks to be set up in City Hall on auction days.
Those who would like to make a payment to remove their property from the online property auction, or for any other inquiries, please call Civicsource® customer service at 1-888-387-8027.
Winning bidders at the CivicSource.com tax sale must pay for their purchases within 72 hours of the close of the auction. Payment must be made in one installment and all sales are final. These auctions and all future tax sales can be viewed on the CivicSource.com website. Using the convenient search options, bidders can set the parameters for any property that falls within their interests and budget.
About Archon Information Systems:
Archon is a New Orleans-based company that provides technology and collection services to government clients. The focus of Archon’s services is the collection and management of delinquent ad valorem taxes which are local governments’ major source of revenue. Archon’s products include Civicsource® Administrator, for management of delinquent property taxes, and Civicsource® Auctioneer, for conducting Internet-based tax and adjudication sales. For more information call (888) 387-8033 or visit http://www.civicsource.com.
For more information about Archon Information Systems, LLC., please visit http://www.archoninfosys.com/.
For media inquiries, contact marketing(at)archoninfosys(dot)com or call (504) 708-4313.